USA Rare Earth (NASDAQ:USAR) Shares Gap Up – Should You Buy?

USA Rare Earth Inc (NASDAQ:USAR)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $9.46, but opened at $9.77. USA Rare Earth shares last traded at $9.60, with a volume of 97,402 shares changing hands.

USA Rare Earth Stock Performance

USA Rare Earth (NASDAQ:USAR) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.19) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On USA Rare Earth

A hedge fund recently bought a new stake in USA Rare Earth stock. Newtyn Management LLC acquired a new stake in shares of USA Rare Earth Inc (NASDAQ:USAR) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 692,650 shares of the company’s stock, valued at approximately $4,114,000. USA Rare Earth makes up approximately 0.7% of Newtyn Management LLC’s investment portfolio, making the stock its 24th biggest holding. Newtyn Management LLC owned about 0.85% of USA Rare Earth as of its most recent filing with the Securities and Exchange Commission (SEC).

About USA Rare Earth

USA Rare Earth, Inc is domestic supplier of rare earth magnets and heavy rare earth elements. It is developing a vertically integrated, domestic supply chain for rare earth element magnet production, with a facility in Stillwater, Oklahoma, and mining rights to the Round Top heavy rare earth and critical minerals deposit in West Texas.